Fibra Inn · BIVA:FINN/13
Fibra Inn — Q2 2015 Earnings Presentation
25 slides from Fibra Inn's earnings presentation, Jul 24, 2015
Slide 1: Second Quarter 2015 Results Conference Call
Second Quarter 2015 Results Conference Call July 24, 2015
Slide 2: Agenda
Agenda Second Quarter 2015 Results I. Quarterly Distribution and Dividend Yield II. Relevant Events III. Status of Developments IV. Future Pipeline V. Operational and Financial Highlights VI. Closing Remarks VII. Q&A Session 2
Slide 3: I. Quarterly Distribution and Dividend Yield
Conference Call Second Quarter 2015 Results I. Quarterly Distribution and Dividend Yield
Slide 4: Distributions and Dividend Yield
Distributions and Dividend Yield Total Distribution (millions) Dividend Yield % 2Q15 2Q14 Var % Period 2013 2014 2015 Distribution Ps. 88.3 43.5 103.1% 1Q 4.5% 5.2% 4.6% CBFIs outstanding 437.0 258.3 69.1% 2Q 4.4% 3.7% 5.4% 3Q 5.7% 5.3% 4Q 5.5% 4.2% Distribution Ps. Per CBFI Year 4.1% 4.9% Period 20
Slide 5: II. Relevant Events
Conference Call Second Quarter 2015 Results II. Relevant Events
Slide 6: Acquisitions: Holiday Inn Reynosa Industrial Poniente
Acquisitions June 1, 2015 - Holiday Inn Reynosa Industrial Poniente Key Facts Investment* Ps. 103.6 million Projected Cap Rate 10.55% Number of 195 Rooms** Segment Full Service 6 *Excluding acquisition-related expenses and Ps. 11.0 millions used towards the purchase of an adjoining land lot. ** Incl
Slide 7: Acquisitions: Hampton Inn by Hilton Hermosillo
Acquisitions June 1, 2015 - Hampton Inn by Hilton Hermosillo Key Facts Investment(1) Ps. 175.0 million Projected Cap Rate 10.2% Number of Rooms(2) 207 Segment Select Service 7 (1) Excluding acquisition-related expenses. (2) Including 56 rooms under construction.
Slide 8: Signing of Binding Agreement: Staybridge Suites Guadalajara
Signing of Binding Agreement July 9, 2015 - Staybridge Suites Guadalajara Expo Key Facts Investment* Ps. 133.6 million Projected Cap Rate 9.54% Number of Rooms 117 Segment Extended Stay 8 *Excluding acquisition-related expenses
Slide 9: Signing of Binding Agreement: Arriva Express Guadalajara
Signing of Binding Agreement July 9, 2015 - Arriva Express Guadalajara Plaza del Sol Expo Key Facts Investment(1) Ps. 141.4 million Projected Cap Rate 10.23% Number of 181 Rooms(2) Segment Select Service 9 (1) Excluding acquisition-related expenses (2) Including 15 rooms under renovation
Slide 10: Renovations and Room Additions
Renovations and Room Additions Holiday Inn Tampico Altamira Key Facts Investment Ps. 82.6 million Additional Rooms 105 Total Rooms 205 Start of Operations June 1, 2015 10
Slide 11: III. Status of Developments
Conference Call Second Quarter 2015 Results III. Status of Developments
Slide 12: Status of Developments
Status of Developments Expected Total Construction Property State Termination Rooms Executed Remaining Investment Progress Date (Ps. millions) Courtyard by Marriott Saltillo Coahuila Nov 1, 2015 180 197.9(1) 92.2 105.7 46.0% Fairfield Inn & Suites by Veracruz Dec 16, 2015 180 146.4(2) 54.2 92.2 52.7
Slide 13: Current Standing
Current Standing Variation July 15 2Q15 2Q14 2Q15 vs 2Q14 Hotels 35 33 23 10 Rooms(1) 6,238 5,940 4,644 1,296 Developments 2 2 3 -1 Land banks 1 1 - 1 Segments 4 3 3 0 States 15 15 13 2 Global Brands 13 12 10 3 Local Brands 3 2 1 2 (1) Includes rooms under development. On July 15, the number of room
Slide 14: IV. Future Pipeline
Conference Call Second Quarter 2015 Results IV. Future Pipeline
Slide 15: Future Pipeline
Future Pipeline Fibra Inn has a pipeline valued at Ps. 27.5 billion comprising 89 hotels for acquisition and 30 properties for development in 20 states representing a total of 19,474 rooms. Acquisitions: Footprint 89 Acquisitions 30 Developments Developments: Acquisitions Development Nº of hotels %
Slide 16: Future Pipeline
Future Pipeline Total Portfolio(1) Acquisitions Developments Hotels 89 Hotels 30 Rooms 13,991 Rooms 5,483 Investment (2) Ps. 18,431 Investment (2) Ps. 9,071.2 Cap. Rates > 10% Cap. Rates > 11% Acquisitions Developments Total Hotels Rooms Investment(2) Hotels Rooms Investment(2) Hotels Rooms Investme
Slide 17: V. Operational and Financial Review
Conference Call Second Quarter 2015 Results V. Operational and Financial Review
Slide 18: Operational Review
Operational Review Same-Store Sales (31 comparable properties) 2Q15 2Q14 Var % Room Revenues (Ps. millions) 287.3 230.9 24.5% Occupancy excluding the addition of rooms 61.2% 55.9% 5.3 pp Occupancy 57.7% 55.9% 1.8 pp Average Daily Rate (ADR) (Ps.) 1,079.9 949.6 13.7% RevPar excluding the addition of
Slide 19: Financial Review
Financial Review Financial Indicators 2Q15 % 2Q14 % Var % (Ps. millions) Room Revenue 291.4 94.0 192.5 94.5 51.4 Rental Revenue 18.7 6.0 11.1 5.5 68.5 Total Revenue for Fibra 310.1 100.0 203.6 100.0 52.3 Total Revenue by Segment 13.9% 9.7% Limited Select Full 37.6% 41.3% 52.6% 44.9% 2Q15 2Q14 19
Slide 20: Financial Review
Financial Review Financial Indicators 2Q15 % 2Q14 % Var. Ps. Var. % (Ps. millions) Total Fibra Revenue 310.1 100.0% 203.6 100.0% 106.5 52.3 Operating Expenses 193.6 62.4 136.6 67.1 57.0 41.8 NOI 116.5 37.6 67.0 32.9 49.5 73.8 Acquisition Expenses 18.4 5.9 - - 18.4 - EBITDA 77.3 24.9 53.6 26.3 23.6 4
Slide 21: Financial Review: Balance Sheet
Financial Review Balance Sheet June 30, 2015 % Dec 31, 2014 % (Ps. millions) Cash & equivalents 410.5 5.5 1,106.7 14.6 Total Assets 7,483.7 100.0 7,560.5 100.0 Liability for bank debt commission 7.6 2.0 10.7 2.9 Total Short Term Liabilities 154.2 40.2 297.9 80.1 Bank loans, net of commissions 220.8
Slide 22: VI. Closing Remarks
Conference Call Second Quarter 2015 Results VI. Closing Remarks
Slide 23: Closing Remarks
Closing Remarks Second Quarter 2015 Results 1. Our priority is to deliver distributions to our CBFIs holders. 2. Focus on accretive acquisitions and develop properties in strategic locations with attractive market opportunities. 3. Strictly control and review hotel operations. 4. Focus on income gen
Slide 24: VII. Question and Answer Session
Conference Call Second Quarter 2015 Results VII. Question and Answer Session
Slide 25: Note on forward-looking statements
Note on forward-looking statements This document may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial re